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The Economics of Small Businesses An International Perspective

:	Ilario Favaretto, Giorgio Calcagnini
:	Giorgio Calcagnini, Ilario Favaretto
:	The Economics of Small Businesses An International Perspective
:	Physica-Verlag
:	9783790826234
:	1
:	CHF 85.30
:

:	Volkswirtschaft
:	English

:	219
:	Wasserzeichen
:	PC/MAC/eReader/Tablet
:	PDF

Is small still beautiful? The recent economic and financial crisis has shown that developed countries in which firms are smaller suffered the biggest GDP plunges. Today, economic growth depends more than in the past on sound and well-organized firms, which means more innovation, a better educated labor force, higher likelihood of access to financial resources and efficient investments. This does not mean the end of small-sized firms, but that they need to be different from the way they were in the past. This book provides an international perspective on analyses and policy recommendations for how small businesses can reinforce their role in modern economies.

Giorgio Calcagnini is Professor of Economics at the University of Urbino, Italy, where he teaches courses and conducts applied research on investment, macro- and micro-economic theory, and the financial system. He was a researcher at ISCO and at the Confindustria, both in Rome. Ilario Favaretto is Professor of Regional Economics at the University of Urbino, Italy. His current research focuses on the role of small businesses adopting an international perspective and expecially focusing on European policies.

	Preface	5
	Introduction	6
	References	17
	Contents	19
	Contributors	21
	Part I Small Businesses and Innovation: Analyses and Policies	23
	1 Innovative Entrepreneurship and Policy: Toward Initiation and Preservation of Growth	24
	1.1 Introduction	24
	1.2 Policies Relating to Education and Worker and Entrepreneurial Skills	26
	1.3 Entrepreneurship-Friendly Immigration Policy	29
	1.4 Policies Directly Promoting Innovation and Entrepreneurship	31
	1.5 The Availability and Cost of Health Insurance and Entrepreneurship	33
	1.6 Regulation, Litigation and Entrepreneurship	35
	1.7 Tax Policy and Entrepreneurship	36
	1.8 Capital Markets Regulation and Finance	39
	1.9 Conclusion	40
	References	41
	2 State Programs to Promote the Growth of Innovative Firms in the United States -- A Taxonomy	45
	2.1 Introduction	45
	2.2 A Multiple Market Ecosystem for Developing New Products in a Market Economy	46
	2.3 Factors/Forces Affecting the Operation of a Marketplace and Thus the Formation and the Growth of Innovative Businesses (Businesses that Develop New Products)	48
	2.4 Poor Performance of New Product Markets--One Major Justification for State Government's Actions in New Product Markets	49
	2.5 State Programs to Promote Innovation and the Growth of Innovative Firms in the United States	50
	2.6 On the Effectiveness of State Programs in Providing Assistance to Innovative Firms: Brief Remarks	56
	2.7 Conclusion	57
	Appendix 1	58
	Appendix 2	61
	References	67
	3 OECD-Eurostat Entrepreneurship Indicators Programme: Comparable International Measures of Entrepreneurship and the Factors that Enhance or Impede It	68
	3.1 Introduction	68
	3.2 The Importance of Entrepreneurship	69
	3.3 The Relevance and Role of Entrepreneurship in Government Policy	70
	3.4 The Need for Entrepreneurship Data	72
	3.5 The Entrepreneurship Indicators Programme (EIP)	73
	3.6 Defining Entrepreneurship	73
	3.6.1 The Top-Down Approach	75
	3.6.2 The Bottom-Up Approach	75
	3.6.3 The EIP Entrepreneurship Definitions	76
	3.7 The Entrepreneurship Framework	76
	3.8 Results from the EIP	79
	3.8.1 Structural Indicators	80
	3.8.2 Entrepreneurial Performance Indicators	82
	3.8.3 Future Directions of Work for the Entrepreneurship Indicators Programme	86
	References	87
	4 The Peculiarities of SMEs in Europe and Italy: Technology Transfer Policies	88
	4.1 Introduction	88
	4.2 The Productive Structure of Italian Economy Vs Other Countries'	89
	4.3 Enterprises' Small Size and Their Low Innovation and Co-operation Capabilities	91
	4.4 The Strategic Relevance of the	91
	4.4 The Strategic Relevance of the	91
	95	91
	4.5 The Role of RIDITT in Italy	96
	4.6 Concluding Remarks	97
	References	98
	5 Public Policies for Italian SMEs: Instruments, Results and Current Trends	100
	5.1 Introduction: The Assumptions, Aims and Contents of the Study	100
	5.2 The Main Provisions on Italian SMEs in the Past Ten Years	101
	5.3 The Measures for SMEs Envisaged by	101
	5.3 The Measures for SMEs Envisaged by	101
	106	101
	5.4 A Synopsis by Levels of Government and Objectives	108
	5.5 Financial Incentives at National and Regional Level	109
	5.5.1 Overall Assessment	109
	5.5.2 Measures by Level of Government and Objective	110
	5.5.3 The Guarantee Fund for SMEs	111
	5.5.4 The Most Recent European Community Provisions	112
	5.6 An Evaluation of Interventions for SMEs Through Quantitative Estimation of Incentives	113
	5.7 Conclusions	116
	References	118
	Part II The Financing of Small and Medium Sized Firms	120
	6 SME Financing and the Financial Crisis: A Framework and Some Issues	121
	6.1 Introduction	121
	6.2 Lending Technologies	122
	6.3 The Financial Crisis and Foreign Bank Ownership	127
	6.4 Bank Guarantee Programs as a Policy Solution	128
	6.5 Conclusion	130
	References	130
	7 Access to Bank Financing and New Investment: Evidence from Europe	132
	7.1 Introduction	132
	7.2 The Role of Small and Medium Sized Firms in Eastern Europe	133
	7.3 Data and Summary Statistics	134
	7.4 Financing Patterns	138
	7.5 The Determinants of Investment Incidence and Financing Strategies	144
	7.6 Conclusions	148
	References	148
	8 Basel II and Changing Bank-Firm Relationship: A Survey	150
	8.1 Introduction